North China Copper Prices Weigh on Demand Amid High Costs
North China's spot copper cathode market continues to struggle under pressure from high copper prices and an off-season demand. As of this Thursday, spot discounts in the region reached as low as 100-30 yuan/mt, with an average discount of 65 yuan/mt, a decrease of 155 yuan/mt from last Thursday.
The market has been experiencing a downturn due to the combination of high copper prices and weak demand. Downstream purchasing enthusiasm has decreased significantly this week, leading to sluggish market inquiries and only sporadic rigid-demand transactions. Suppliers' willingness to sell has increased steadily, but end-user buying remains weak, resulting in a supply-demand imbalance.
The persistent high copper price environment and ongoing off-season demand are expected to continue putting pressure on the market. Spot premiums for copper cathode in North China are likely to remain under pressure.